Hey all - I just made a colossal mistake. I have 4.5k on a Citibank cc thatâ??s over 120 days late. Last week I sent a pay for deletion letter. They claim (at least on the phone) they donâ??t do this. Anyhow, I have been holding an envelope with payment in my bag for sometime awaiting their response, and I accidentally mailed it at the same time as the letter. It was for 4k and the check just cleared (arrrghh). I haven't heard back, and am anxious to call for an update, but that may be a bad idea. I still owe them $500. Is that enough leverage for them to delete the TL? Will they even do it? Should I let the $500 remaining go to a CA and try my luck with them? If it goes to a CA will it be two TL on my report (one for citi cards and one for CA)? and lastely can the CA delete both TLs? Oddly enough, at least $600 in interest and late feeâ??s have accumulated. They offered to take off $599 if I paid the balance in full, and I even screwed that up now. Any help or advice appreciated. thanks, deedee
Well lets do a little damage control. Call em back and tell em since they promised to drop the $599 interest it's now paid off. And ask em to inform the CA. Chances are the CA won't list if you move quickly. Wait about 3 months and we can attack the problem for inaccurate reporting. Other than this Deedee I'm not sure what else you can do now. .
Was their a restricted endorsement on the payment? http://www.carreonandassociates.com/restrictiveoffer.htm Are you in one of the states which allow for restricted endorsements to be binding? http://www.carreonandassociates.com/4settle.htm With the account at 120 days late, was it at a collection agency, or is it only the original creditor who is in play?
By restricted endorsement I assume you mean "payment in full" in the memo area. I didn't do that. I am in New York. Lastely, it is still with Citibank, it never went to a collection agency. I was suppose to get American Airline miles, and they never posted it (or they gave it to another account). I dealt with customer service and basically gave up saying 'until you fix it, I aint payin'. Well.... here I am paying it all and then some back. It's tough finding the energy to fight these guys, they hold your credit score hostage right or wrong. Anyhow, I just want it off. I'm hoping $500 owed might still give me enough leverage to get it deleted. If anyone has advice or experience with citibank, please share... thanks.
i wouldn't ask for deletion - i would ask that if you pay the remainder will they changed to "paid, never late"? this way you get a good TL.
That makes more sense. Get them to rate you as never late. From what I've read here, you want to get Collection Agencies deleted. Clearly even a "paid" rating with a CA is never good. It's self-evident. But you have a OC with a dispute. Make them understand that they screwed up and now you're paying so this goes no further. You do NOT want this to go to a CA. You'll see a much lower FICO. A NOT good thing
UPDATE ---- well.... it gets worse... I called them today, asking if they got my offer letter. Reply: 'Yep, it was denied' I call back later, indicating I was offered 500 bucks if I paid 500 or more. I was basically told 'That was before, when you were 6 months late, now your current and that offer isn't available' I was then transfered to a supervisor who echoed the same thing. "So, I paid the 4k including 25% interest for 6 months, $35/month late charges, and on top of that I still have to pay the $500 remaining plus late charges and interest? and citibank isn't offering anything?" reply : "Correct" I need some serious help.... worse of all this thing is KILLING my fico because it's current.
they arent going to delete no matter what now. I'd just pay the balance to be done with it, and try to get the TL deleted later. its probably not worth the hassle at this point to do anything else. oh, and after you pay it off, never use it again.
